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Sethi had humble beginnings, but he used prudence to amass riches.
In a recentYouTube video, the financial guru argued that the strategies needed tobuild wealthchange depending on income level.
Unfortunately, its something that plagues many Americans earning over $100,000 a year.
Nearly half of Americans earning six figures lived paycheck-to-paycheck as of 2024, according toPYMTS Intelligence.
The key to solving this is knowing what you want.
Defining your rich life suddenly makes all your money have a purpose, said Sethi.
He said not to simply overspend, but toidentify what you want to do with your wealthand attack it.
That can range from luxurious travel to being incredibly charitable whatever gives your resources purpose.
Thats a difference of $186,000 or 25% of your returns.
Hiring an advisor may be right for some needs, but Sethi recommended an hourly or flat-fee advisor.
The Cost of Homeownership
The same is true for homeownership.
Dont Manage Your Money Blind
Running the math is vital for Americans earning over $100,000 annually.
You want to live your life, not blindly following what you think should be done.
Your rich life is yours, said Sethi.
Applying this wisdom is key for six-figure income earners to maximize their resources.
He explained that earning $35,000 annually gives you roughly $2,500 monthly after taxes.
With the average rent currently over $1,800, according toZillow, this leaves minimal wiggle room.
This can be done in small, monthly increments in ahigh-yield savings account.
Sethi suggested pairing that with free or low-cost ways to grow your skillset to increase your income.
Money Management at $75K
Achieving a higher income of $75,000 annually opens up opportunities.
These are strategic, high-impact questions that can transform your financial future, said Sethi.
These questions intensify for Americans earning over $100,000 annually.
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